Remastering the Soundtrack of a Clash of Titans: Polanyi’s The Great Transformation and Hayek’s The Road to Serfdom (2020)

As the end of the Second World War hove into view around 1943, the British intellectual scene lit up with discussion about how to reshape British society after the war. A broad agreement that governments must cure social ills and guard against its national government, planning, rationing, “fair shares” and “equal sacrifices,” and underfeeding.” However, this consensus was rooted in the rise of welfarism and social imperialism that challenged the verities of the reigning liberalism in economic policy well before the First World War and the rise of a decidedly left-of-center Depression-era “middle opinion” that encompassed not only liberals like Keynes but also many conservative politicians.

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